The 30% tariff on European goods threatened by U.S. President Donald Trump would, if implemented, be a game-changer for Europe, wiping out whole chunks of transatlantic commerce and forcing a rethink of its export-led economic model.

EU Trade Commissioner Maros Sefcovic is set to have discussions with U.S. Trade Representative Jamieson Greer. The meeting, which will take place on early Tuesday evening, aims to address pertinent trade issues,

EU warns Trump’s proposed 30% tariffs would cripple transatlantic trade. Brussels prepares €72bn in retaliatory measures as negotiations enter final weeks.

If implemented by the 1 August deadline, the move could derail $1.7 trillion worth of transatlantic commerce and force the EU to reconsider its export-reliant economic structure.

The European Union is pushing back against US tariff threats, signaling potential retaliatory measures if negotiations fail. The impending tariffs, set by President Trump, could significantly impact transatlantic trade,

Ignacio Sánchez Recarte, secretary general of wine lobby CEEV, said "there is no political, strategic or economic interest" for involving the alcoholic beverage in the transatlantic trade spat.

The FTSE 100 rose above the 9,000 mark for the first time on Tuesday morning after Brexit Britain was branded a 'clear winner' in Donald Trump's trade war.

The European Union has prepared a €21 billion ($24.5 billion) list of tariffs on U.S. goods in case trade talks fail, Italy's Foreign Minister Antonio Tajani said in an interview with Il Messaggero newspaper,

Trump has also threatened reciprocal tariffs on any counter measures from the EU - the consequences could not be greater